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Today’s WASDE report released by USDA is predicting record corn production at 13.5 billion bushels, up 1.1 billion from 2010-2011. Prices are also at record highs at $5.50-6.50/bu. Soybean production is expected to be down 44 million bushels from 2010-2011. Prices, however, are up in a range from $12 to $14 bu./acre, compared to a 2010-2011 price of $11.40.
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